Introduction to the Nobel Prize: The Nobel Prize was established in 1900 with part of the estate (31 million Swedish kronor) of Alfred Bernhard Nobel, the famous Swedish chemist and inventor of nitroglycerin dynamite. Founded in year. The Nobel Prize is divided into five awards: physics, chemistry, physiology or medicine, literature, and peace. It is awarded to people in the world who have made significant contributions to mankind in these fields with the annual interest or investment income of the fund. It was first awarded in 1901. The Nobel Prize includes a gold medal, certificate and cash prize. In 1968, on the occasion of the 300th anniversary of its founding, the Swedish National Bank donated a large amount of funds to the Nobel Fund and added the "Swedish National Bank Memorial Nobel Prize in Economic Sciences". It was first awarded in 1969. People are accustomed to calling this additional award Nobel Prize in Economics.